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MEDI Group Limited filed for an initial public offering to raise $15 million through the sale of 3,333,333 Class A ordinary shares on the Nasdaq Capital Market.
The company estimates the initial offering price will range between $4.00 and $5.00 per share. MEDI Group has applied to list its shares under the ticker symbol "MEDG" on the Nasdaq Capital Market.
Existing shareholders plan to sell an additional 4,272,222 shares through a separate resale prospectus. These resale shares cannot be sold until 21 days after the IPO completion and will be sold at prevailing market prices or privately negotiated prices. MEDI Group will not receive proceeds from the resale transactions.
American Trust Investment Services and WESTPARK CAPITAL will serve as underwriters for the offering. The company’s shares currently trade on the over-the-counter market under the same MEDG symbol.
The information is based on the company’s registration filing statement.